Short Interest in Birchcliff Energy Ltd. (OTCMKTS:BIREF) Drops By 21.8%

Birchcliff Energy Ltd. (OTCMKTS:BIREF) was the recipient of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 9,642,400 shares, a decrease of 21.8% from the February 28th total of 12,331,500 shares. Approximately 3.6% of the company’s shares are sold short. Based on an average trading volume of 181,600 shares, the short-interest ratio is presently 53.1 days.

Birchcliff Energy Stock Down 0.2 %

BIREF stock opened at $4.65 on Monday. The business has a 50 day moving average of $4.07 and a 200 day moving average of $3.92. The firm has a market cap of $1.26 billion, a PE ratio of 33.21 and a beta of 0.63. Birchcliff Energy has a twelve month low of $3.15 and a twelve month high of $4.83. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.22.

Birchcliff Energy (OTCMKTS:BIREF) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.09 earnings per share for the quarter. Birchcliff Energy had a return on equity of 2.49% and a net margin of 9.39%.

Birchcliff Energy Cuts Dividend

The company also recently announced a dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.0209 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a dividend yield of 2.44%. Birchcliff Energy’s dividend payout ratio is presently 57.14%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Scotiabank raised shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 17th. Cormark raised Birchcliff Energy to a “strong-buy” rating in a research note on Thursday, March 13th. TD Securities upgraded Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 23rd. Cibc World Mkts upgraded shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 13th. Finally, Canaccord Genuity Group raised shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 13th. Six analysts have rated the stock with a strong buy rating, According to MarketBeat, the company currently has an average rating of “Strong Buy”.

Birchcliff Energy Company Profile

Birchcliff Energy Ltd., an intermediate oil and natural gas company, explores for, develops, and produces natural gas, light oil, condensate, and other natural gas liquids in Western Canada. The company holds interests in the areas of Montney/Doig Resource Play, including the Pouce Coupe and Gordondale properties in Alberta.